A registered company is an organization which is formed and registered with the appropriate statutory authority of the country as a 'company or corporation' in accordance with the corporate and securities law of that country.n India, company registration is also referred to as incorporation of a company or formation of a business. Registering your company makes your business a distinguished entity and gives it a legal existence. The company registration process in India is done under the Ministry of Corporate Affairs. The benefits of registering the company are
- You will limit your personal liability. As a sole trader or partnership, you are legally responsible for all aspects of your business, including debts and losses.
- You will minimize your tax liability.
- You can avoid conflict with your founders.
- Legitimacy and brand awareness.
- You can raise significant capital.
REGISTRATION OF A COMPANY PROCEDURE.
A company can be formed for any purpose in the following ways
- Public co. seven or more people.
- A private company, 2 or more people.
- One Person Company.
Registration of a company is proceeded by filing an application and accompanied by the following documents.
- Memorandum of association
- Articles of association
- Copy of the agreement.
- A declaration of whether the company has complied with the provisions of the act.
- Preparation of other documents
- Power of attorney
- Consent of Directors
- Particulars of Managers
- Declaration by subscribers to memorandum & first directors
- Address for communication & notice of a registered address
- Statutory Declaration
- Filing of application & Documents for Registration
- Simplified Proforma for Incorporating Company Electronically
- Certificate of Incorporation- brings the company into existence, upon which the company is born. It is collusive evidence as was held in the case of moosa goolam Ariff v. Abraham goolam ariff. Not only does the certificate create the company but also is collusive evidence that all the requirements of this act have complied with respect to the registration. In the case of barned’s banking company and peel case, it was held that the registrar's certificate is in fact collusive.
- Allotment of Corporate Identity Number (CIN)- according to section 7(2) of the act, the registrar has to allow the company a distinct corporate identity number, which has to be also included in the certificate.
Online Registration of a Company includes Major 4 steps
- Acquiring Director Identification Number(DNN)
- Acquiring Digital Signature Certificate(DSC)
- Filing an e-form or New user registration
- Incorporating the Company.
This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.